Many people enter the Forex trading arena without considering the importance of selecting a reliable and trustworthy broker. A good Forex broker can be the difference between success or failure and unfortunately, new traders are unaware of the crucial differences between Forex brokers. Of major concern is that the Forex industry is not centrally regulated such as stock exchanges so this opens the door for brokers to be unfair with their clients.
The main difference that you will see between Forex brokers is whether they are a dealing desk or non dealing desk broker. qq online A dealing desk broker makes money from the spreads and by trading against its clients by taking the other side of the trade. This type of Forex broker is generally called a Market Maker.
Non Dealing Desk Forex brokers do not take the other side of the trade but instead provide access to the interbank market. With a legitimate broker of this type, there should be no re-quotes and no extra pausing when waiting for the order confirmation. These brokers will either charge a commission while keeping the spreads extremely tight or choose to increase the spread and make your Forex trading commission free.
There are also two other types of brokers. Straight Through Processing brokers that send orders directly from clients to the liquidity providers/banks which trade on the Interbank; and Electronic Communications Network brokers which allow client orders to interact with other client orders thus creating a marketplace where all participants, including banks, market makers and independent traders, trade against each other by sending competing bids and offers into the system. Both these types of brokers can be considered No Dealing Desk.
Of these types of brokers, stay away from the Dealing Desk Market Makers. They do not have your best interest in mind. Why would they, after all, they need you to lose in order to make money. Many entice new clients with extremely narrow spreads and even offer account deposit bonuses much like online casinos do. But when it comes down to it, they have every reason to make trading difficult for you so you lose with re-quotes and stop hunting. Forex trading is difficult enough as it is, the last thing you need is your broker to make it tougher. Choose a no dealing desk broker so that you don’t need to worry about being cheated and focus on the task at hand, Forex trading!
The internet is full of work from home opportunities that claim over night riches, the only problem is that the majority do not deliver what they promise and the rest take months even years to develop into worthwhile profitable businesses. If you are looking for a way to make easy money from home in a couple of days or less without testing your luck in an online casino or poker room, then I would recommend forex trading as a super quick way to get started.
Forex trading or foreign currency trading is the buying and selling of foreign currency at shifts in the currency value to profit. Since super fast internet connections and the birth of spread betting platforms it is no longer down to the rich and large financial institutions to profit from this volatile market, many budding entrepreneurs are making a healthy living some starting from as little as £50.
The returns from forex trading are massive sometimes in excess of 400 x your initial bet and can be one in hours or even minutes making it a very easy money from home business. The great thing about forex trading is that all you need to get started is a laptop and an internet connection and there is plenty of free information available on the internet to self-teach the basics. You can trade forex 24 hours a day 5 1/2 days a week from anywhere in the world making it one of the most versatile easy money from businesses available to anyone.
It is recommended that you always practice your theories of forex trading with a demo account before you go on to real money. With a demo account, that most worthy spread betting platforms offer, you can trade in a real live market situation without having to risk real money, a great way to test the water.
There are however ways to jump straight in and still see profitable results and these come in the form of forex clubs. Forex clubs can vary in the service that they offer as well as the cost for being a member; the typical services you can expect to receive are text messages or SMS messages of details on when to enter trades and for the more exclusive clubs you can watch a professional trader do their trades live over a webinar and copy exactly what they do to take your own profits.
Adam has been trading forex [http://www.bankonadam.com] for 5 years and until recently with little success. Adam recently joined Colin Atkin’s private members club [http://www.bankonadam.com] and has since seen his profit margin quadruple in the past two years. Colin is a professional trader who shares his trading live, over a webinar three times a day 5 days a week, all you have do is copy what he does and take the profits. Since Adam joined Colin he has had the money to invest in other projects and gone on to be a successful full time forex trader and internet marketer.